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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (457000)2/16/2009 5:31:54 PM
From: i-node  Read Replies (2) of 1578124
 
>> How the Crash Will Reshape America

Supposing our current debacle does go on to become something more than a recession, and supposing it does approach something like the great depression.

Do you actually believe the Depression in any way models the outcome? That's absurd.

The entire banking industry? Different. The country, then debt-free, is now covered in debt, with some $60 Trillion in total liabilities. We have a substantial portion of America now COUNTING on having free health care and a Social Security check every month. Plus ANOTHER substantial portion counting on unemployment benefits, food stamps, free health care, and even more insane things like free transportation to their physicians office for their free health care.

People in cities are more reliant on public transportation, meanwhile, cities are more sprawling than ever before.

And MOST importantly, we [hopefully] will not have a WWIII to pull us out of it the way we did with the Great Depression and WWII.

One other point. While we have a president who is trying to make people MORE reliant on the government, during the Great Depression our president understood the concept of providing a helping hand but not creating life long dependence on the government for handouts.

It is a different time and place. There is little of practical value to be applied to the current situation from the 30s.
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